12: The Pension System – Unfair Rather than Equitable?

The tax burden during the employment cycle is comparatively higher in Austria in order to finance a long pension cycle in this country. The pension system has for a long time been designed in order to promote goals unrelated to pensions, such as gender equality or other labour market policies. The result is an expensive system which tends not to treat both genders equally and particularly weakens the labour market performance of women, as well as providing a structural disadvantage to young people. What should a sustainable and fair pension system look like?